Insured Overnight FundingSM
Insured Overnight FundingSM powered by ICS® is the first overnight deposit funding option of its kind. Banks can submit requests for up to hundreds of millions of dollars on an overnight basis to help meet both planned and unexpected funding demands.
A Flexible Alternative or Supplement To Other Overnight Funding Options
With Insured Overnight Funding, banks can diversify their funding options. Insured Overnight Funding can be used as an alternative or supplement to Fed Funds, FHLB advances, and correspondent banks. No collateral requirements apply, and no credit lines are needed.
Convenient Same-Day Funding For Banks
Insured Overnight Funding is convenient to use. Banks can decide how much funding to request at a given rate, subject to availability. Requests for same-day funding can be submitted each business day. There is no transaction fee—the rate a bank indicates in its request is its all-in cost of funds.
How Insured Overnight Funding Works
Learn More About Insured Overnight FundingInsured Overnight Funding can help diversify banks’ funding sources, bolster contingency funding plans, and help meet unexpected demands, such as sizable customer withdrawals or large loan originations. And it is one of many funding options available to banks from Promontory Interfinancial Network.
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Promontory Network will use your information solely to provide you with information about Promontory Network services. We will not provide your personally identifying information to third parties.
Fulfillment of a request for funds is not guaranteed, and a request for funds is subject to Promontory Interfinancial Network’s participation policy and applicable per-institution limits.
The use of Insured Overnight Funding through ICS is subject to the terms, conditions, and disclosures set forth in the CDARS-ICS Participating Institution Agreement. ICS, Insured Cash Sweep, and CDARS are registered service marks, and Insured Overnight Funding is a service mark, of Promontory Interfinancial Network, LLC.